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Here’s how to qualify for credit card debt forgiveness before 2025

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Poor man bankrupt with no credit in debt hand hold empty black leather wallet because economy down turn Empty wallet (no money) in the hands of an man, monthly bill expenses and credit card debt.
Credit card debt forgiveness could provide relief from high-rate debts — but you’ll have to qualify for it first.

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In today’s challenging financial climate, many people are struggling to keep up with their monthly expenses. While inflation has cooled significantly compared to this time last year, the elevated prices for necessities like groceries and housing remain, and these high costs have made it more difficult for people to fit the necessities into their budgets. This, in turn, has forced more people to rely heavily on their credit cards to make ends meet, leading to a spike in consumer debt. 

Right now, for example, the average cardholder carries about $8,000 in credit card debt. Unfortunately, they’re doing so at a time when the average credit card rate is hovering above 23%. That record-high rate makes it easy for credit card debt to grow, especially as the interest compounds, so it can be hard for cardholders to make a dent in their balances, especially if money is tight. For those who are struggling, even small monthly credit card payments can become a heavy burden over time.

If you’re one of the many people facing this situation, you might be searching for solutions to ease the burden. One potential path forward is credit card debt forgiveness, also known as debt settlement. This option can, in many cases, reduce your outstanding balance by 30% to 50%. But debt forgiveness isn’t available automatically and you may need to meet certain conditions to qualify. Below, we’ll explain how you can do that before 2025.

Find a better solution for your expensive credit card debt now.

How to qualify for credit card debt forgiveness before 2025

Debt forgiveness involves negotiating with your credit card companies to settle your debt for a lower amount than what you actually owe. While you can attempt this on your own, many people turn to debt relief companies for assistance in navigating the process and negotiating with creditors.

While there aren’t strict qualifications for credit card debt forgiveness, there are certain conditions that improve the likelihood of success — especially if you’re working with a debt relief company during the process. For example, most debt relief companies require you to have a minimum amount of unsecured debt to enroll in this type of program. 

Debt relief companies generally expect you to have a minimum credit card balance of about $7,500 to enroll in a debt forgiveness program, although requirements vary. If your debt is below this amount, the debt relief company may not consider it viable to negotiate a settlement. This threshold ensures the debt settlement process is cost-effective for both parties involved. If your debt falls below this amount, you may need to explore alternative solutions.

You’ll also need to demonstrate financial hardship in most cases. After all, creditors are generally more willing to settle for less if you can provide evidence that you’re unable to repay the full balance you owe. Some of the common qualifying hardships include:

  • Job loss or significant income reduction
  • Medical emergencies resulting in substantial bills
  • Divorce or separation that is causing financial strain
  • Natural disasters affecting your financial stability

To document your hardship, you may need to provide relevant paperwork, such as pay stubs showing your reduced income, medical expenses or proof of significant financial responsibilities. Not all debt relief companies will require this to enroll, but it may help with the negotiations if you have clear proof that you’re unable to pay back what you owe.

Credit card companies are also more likely to agree to forgive a portion of your debt if you have missed payments or are at risk of defaulting. If you’ve kept up with your minimum payments, your creditors might not see you as a good candidate for debt settlement since you’re still making progress on repaying the debt. However, if you’ve missed payments and are facing a default risk, creditors may be more willing to negotiate a settlement, as they’d prefer some repayment over the risk of you filing for bankruptcy and discharging the debt entirely.

Take steps to get rid of your debt today.

What are my other debt relief options?

If you don’t qualify for credit card debt forgiveness or if you prefer a different path, there are several alternative ways to manage your debt.

  • DIY debt settlement: If working with a debt relief company doesn’t suit your needs, you can try negotiating directly with your creditors, which can save you fees and allow you to avoid the minimum debt requirements of debt relief companies. 
  • Debt consolidation loans: For those with reasonably good credit, debt consolidation can be a helpful solution. This involves combining multiple debts into a single loan with a lower interest rate, which can simplify your finances and potentially reduce your monthly payments.
  • Debt management: You also have the option to enroll in a debt management plan through a credit counseling agency. These plans often allow you to consolidate your debts into one monthly payment with reduced interest rates or fees. 
  • Bankruptcy: For those with unmanageable debt, bankruptcy might be a last resort option, as it can provide a fresh financial start by discharging or restructuring your debts. However, this option has significant impacts on your credit score. 

The bottom line

Credit card debt forgiveness can offer a lifeline to those struggling with overwhelming balances, but the process of qualifying often requires demonstrating financial hardship and meeting specific debt thresholds. If you don’t meet the requirements for debt forgiveness, there are still effective ways to gain control of your finances. Debt consolidation loans, debt management plans and even bankruptcy are alternative routes to consider. By exploring these options, you can take positive steps toward regaining financial stability.



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2 killed in U.S. Civil Air Patrol plane crash near Palisade Mountain in Northern Colorado

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Two people were killed and a third was injured when a U.S. Civil Air Patrol plane crashed in Colorado’s Front Range Saturday morning.

The small passenger plane with three people aboard crashed near Storm Mountain and Palisade Mountain west of Loveland around 11:15 a.m., according to the Larimer County Sheriff’s Office. The plane belonged to the Civil Air Patrol, the civilian auxiliary wing of the U.S. Air Force, and was on a routine aerial photography training mission when it went down, officials said.

Pilot Susan Wolber and aerial photographer Jay Rhoten were identified by CAP as those killed and co-pilot Randall Settergren was identified as the person injured. Settergren was airlifted to an area hospital by a National Guard helicopter, where he is undergoing medical care.

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A crashed plane is seen in the mountains west of Loveland, Colorado on Saturday, Nov. 23, 2024. The plane crashed that morning in the area of Storm Mountain and Palisade Mountain.

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“The volunteers of Civil Air Patrol are a valuable part of the Department of Military and Veterans Affairs, and the lifesaving work they do on a daily basis directly contributes to the public safety of Coloradans throughout the state,” Maj. Gen. Laura Clellan, adjutant general of the Colorado Department of Military and Veterans Affairs, said in a statement Saturday.

“We are devastated to hear of the loss of Susan Wolber and Jay Rhoten, and the injury of Randall Settergren, during a training mission in Larimer County. Our thoughts and deepest condolences are with the families of those involved in the crash,” Clellan continued. “I would also like to thank all of the first responders who assisted with rescue efforts.”

Palisade Mountain is in Larimer County, about 20 miles west of Loveland and about 65 miles northwest of Denver. The area is part of the burn scar of the Alexander Mountain Fire, which burned almost 10,000 acres in over two weeks this past summer.

The crash happened about 200 feet below the summit of Palisade Mountain in an area that includes tall trees and steep hills as part of the mountain range. Rescue crews were heard on radio traffic working to find a landing zone for rescue helicopters. No structures were impacted by the crash.

The plane crashed in “very rugged” and “extensive and rocky terrain,” Ali Adams, a Larimer County Sheriff’s Office spokeswoman, said at a news conference. First responders had to hike out to the site and the sole survivor was “severely injured” when responders finally got to them.

Rescue efforts were ongoing at 3:15 p.m., according to Adams, and recovery efforts for the two deceased people’s bodies could take several days.

Several agencies responded, including the Loveland Fire Rescue Authority, Thompson Valley EMS and the National Guard.

The Larimer County Sheriff’s Office is the lead agency investigating the crash and the Federal Aviation Administration and National Transportation Safety Board will assist, according to Adams. The NTSB said it too was investigating the crash and identified the plane as a Cessna 182.

“This is one of those incidents that is really low frequency; it doesn’t happen really often, but unfortunately, our first responders have had more than their fair share of responses,” Adams said. 

George Solheim lives in the area of the crash. He described conditions as “extremely windy” on Saturday and heard the plane just prior to the crash. He says he could hear “loud ‘throttle up/down’ immediately prior to sudden silence at (the) time of (the) crash. Couldn’t hear sounds of impact from here.”

Colorado Gov. Jared Polis extended his sympathy to the families of the victims in a statement Saturday evening:

“I’m saddened to hear of the loss of two dedicated Civil Air Patrol members, Pilot Susan Wolber and aerial photographer Jay Rhoten, who lost their lives in today’s crash and my thoughts are with their families, friends and colleagues. These individuals, along with survivor co-pilot Randall Settergren, who was injured, served the Civil Air Patrol as volunteers who wanted to help make Colorado a better, safer place for all. The State of Colorado is grateful for their commitment to service and it will not be forgotten. I also want to thank the first responders who assisted with the rescue and recovery efforts.”



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Fred Harris, former Democratic U.S. senator and presidential candidate, dies at 94

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Fred Harris, a former U.S. senator from Oklahoma, presidential hopeful and populist who championed Democratic Party reforms in the turbulent 1960s, died Saturday. He was 94.

Harris’ wife, Margaret Elliston, confirmed his death to The Associated Press. He had lived in New Mexico since 1976.

“Fred Harris passed peacefully early this morning of natural causes. He was 94. He was a wonderful and beloved man. His memory is a blessing,” Elliston said in a text message.

Fred Harris
Sen. Fred Harris of Oklahoma announces his intention to seek the 1972 Democratic nomination for president, in Washington, D.C., on Sept. 24, 1971. 

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Harris served eight years in the Senate, first winning in 1964 to fill a vacancy, and made unsuccessful bid for the presidency in 1976.

“I am deeply saddened to learn of the passing of my longtime friend Fred Harris today,” Democratic New Mexico Gov. Michelle Lujan Grisham wrote in a post to social media. “Harris was a towering presence in politics and in academia, and his work over many decades improved New Mexico and the nation.  He will be greatly missed.”

Democratic Sen. Martin Heinrich of New Mexico said in a statement that “New Mexico and our nation have lost a giant,” describing him as a “tireless champion of civil rights, tribal sovereignty and working families.”

It fell to Harris, as chairman of the Democratic National Committee in 1969 and 1970, to help heal the party’s wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.

He ushered in rule changes that led to more women and minorities as convention delegates and in leadership positions.

“I think it’s worked wonderfully,” Harris recalled in 2004, when he was a delegate to the Democratic National Convention in Boston. “It’s made the selection much more legitimate and democratic.”

“The Democratic Party was not democratic, and many of the delegations were pretty much boss-controlled or -dominated. And in the South, there was terrible discrimination against African Americans,” he said.

Harris ran unsuccessfully for the Democratic presidential nomination in 1976, quitting after poor showings in early contests, including a fourth-place win in New Hampshire. The more moderate Jimmy Carter went on to win the presidency.

Harris moved to New Mexico that year and became a political science professor at the University of New Mexico. He wrote and edited more than a dozen books, mostly on politics and Congress. In 1999 he broadened his writings with a mystery set in Depression-era Oklahoma.

Throughout his political career, Harris was a leading liberal voice for civil rights and anti-poverty programs to help minorities and the disadvantaged. Along with his first wife, LaDonna, a Comanche, he also was active in Native American issues.

“I’ve always called myself a populist or progressive,” Harris said in a 1998 interview. “I’m against concentrated power. I don’t like the power of money in politics. I think we ought to have programs for the middle class and working class.”

“Today ‘populism’ is often a dirty word because of how certain leaders wield power,” Heinrich said in his statement Saturday. “But Fred represented a different brand of populism — one that was never mean or exclusionary. Instead, Fred focused his work and attention on regular people who are often overlooked by the political class.”

Harris was a member of the National Advisory Commission on Civil Disorders, the so-called Kerner Commission, appointed by then-President Lyndon Johnson to investigate the urban riots of the late 1960s.

The commission’s groundbreaking report in 1968 declared, “our nation is moving toward two societies, one black, one white — separate and unequal.”

Thirty years later, Harris co-wrote a report that concluded the commission’s “prophecy has come to pass.”

“The rich are getting richer, the poor are getting poorer and minorities are suffering disproportionately,” said the report by Harris and Lynn A. Curtis, president of the Milton S. Eisenhower Foundation, which continued the work of the commission.

Norman Ornstein of the American Enterprise Institute said Harris rose to prominence in Congress as a “fiery populist.”

“That resonates with people…the notion of the average person against the elite,” Ornstein said. “Fred Harris had a real ability to articulate those concerns, particularly of the downtrodden.”

In 1968, Harris served as co-chairman of the presidential campaign of then-Vice President Hubert Humphrey. He and others pressed Humphrey to use the convention to break with Johnson on the Vietnam War. But Humphrey waited to do so until late in the campaign, and narrowly lost to Republican Richard Nixon.

“That was the worst year of my life, ’68. We had Dr. Martin Luther King killed. We had my Senate seatmate Robert Kennedy killed and then we had this terrible convention,” Harris said in 1996.

“I left the convention — because of the terrible disorders and the way they had been handled and the failure to adopt a new peace platform — really downhearted.”

After assuming the Democratic Party leadership post, Harris appointed commissions that recommended reforms in the procedures for selecting delegates and presidential nominees. While lauding the greater openness and diversity, he said there had been a side effect: “It’s much to the good. But the one result of it is that conventions today are ratifying conventions. So it’s hard to make them interesting.”

“My own thought is they ought to be shortened to a couple of days. But they are still worth having, I think, as a way to adopt a platform, as a kind of pep rally, as a way to get people together in a kind of coalition-building,” he said.

Harris was born Nov. 13, 1930, in a two-room farmhouse near Walters, in southwestern Oklahoma, about 15 miles from the Texas line. The home had no electricity, indoor toilet or running water.

At age 5 he was working on the farm and received 10 cents a day to drive a horse in circles to supply power for a hay bailer.

He worked part-time as a janitor and printer’s assistant to help for his education at University of Oklahoma. He earned a bachelor’s degree in 1952, majoring in political science and history. He received a law degree from the University of Oklahoma in 1954, and then moved to Lawton to practice.

In 1956, he won election to the Oklahoma state Senate and served for eight years. In 1964, he launched his career in national politics in the race to replace Sen. Robert S. Kerr, who died in January 1963.

Harris won the Democratic nomination in a runoff election against J. Howard Edmondson, who left the governorship to fill Kerr’s vacancy until the next election. In the general election, Harris defeated an Oklahoma sports legend — Charles “Bud” Wilkinson, who had coached OU football for 17 years.

Harris won a six-year term in 1966 but left the Senate in 1972 when there were doubts that he, as a left-leaning Democrat, could win reelection.

Harris married his high school sweetheart, LaDonna Vita Crawford, in 1949, and had three children, Kathryn, Byron and Laura. After the couple divorced, Harris married Margaret Elliston in 1983. A complete list of survivors was not immediately available Saturday.





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Compromise deal reached at COP29 climate talks for $300 billion a year to poor nations

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Countries agreed on a deal to inject at least $300 billion annually in humanity’s fight against climate change, aimed at helping poor nations cope with the ravages of global warming at tense United Nations climate talks in the city where industry first tapped oil.

The $300 billion will go to developing countries who need the cash to wean themselves off the coal, oil and gas that causes the globe to overheat, adapt to future warming and pay for the damage caused by climate change’s extreme weather. It’s not near the full amount of $1.3 trillion that developing countries were asking for, but it’s three times the $100 billion a year deal from 2009 that is expiring. Delegations said this deal is headed in the right direction, with hopes that more money flows in the future.

“Everybody is committed to having an agreement,” Fiji delegation chief Biman Prasad said as the deal was being finalized. “They are not necessarily happy about everything, but the bottom line is everybody wants a good agreement.”

It’s also a critical step toward helping countries on the receiving end create more ambitious targets to limit or cut emissions of heat-trapping gases that are due early next year. It’s part of the plan to keep cutting pollution with new targets every five years, which the world agreed to at the U.N. talks in Paris in 2015.

The Paris agreement set the system of regular ratcheting up climate fighting ambition as away to keep warming under 1.5 degrees Celsius above pre-industrial levels. The world is already at 1.3 degrees Celsius and carbon emissions keep rising.

Countries also anticipate that this deal will send signals that help drive funding from other sources, like multilateral development banks and private sources. That was always part of the discussion at these talks — rich countries didn’t think it was realistic to only rely on public funding sources — but poor countries worried that if the money came in loans instead of grants, it would send them sliding further backward into debt that they already struggle with.

“The $300 billion goal is not enough, but is an important down payment toward a safer, more equitable future,” said World Resources Institute President Ani Dasgupta. “This deal gets us off the starting block. Now the race is on to raise much more climate finance from a range of public and private sources, putting the whole financial system to work behind developing countries’ transitions.”

It’s more than the $250 billion that was on the table in the first draft of the text, which outraged many countries and led to a period of frustration and stalling over the final hours of the summit. After an initial proposal of $250 billion a year was soundly rejected, the Azerbaijan presidency brewed up a new rough draft of $300 billion, that was never formally presented, but also dismissed roundly by African nations and small island states, according to messages relayed from inside.

The several different texts adopted early Sunday morning included a vague but not specific reference to last year’s Global Stocktake approved in Dubai. Last year there was a battle about first-of-its-kind language on getting rid of the oil, coal and natural gas, but instead it called for a transition away from fossil fuels. The latest talks only referred to the Dubai deal, but did not explicitly repeat the call for a transition away from fossil fuels.

Countries also agreed on the adoption of Article 6, creating markets to trade carbon pollution rights, an idea that was set up as part of the 2015 Paris Agreement to help nations work together to reduce climate-causing pollution. Part of that was a system of carbon credits, allowing nations to put planet-warming gasses in the air if they offset emissions elsewhere. Supporters said a U.N.-backed market could generate up to an additional $250 billion a year in climate financial aid.

Despite its approval, carbon markets remain a contentious plan because many experts say the new rules adopted don’t prevent misuse, don’t work and give big polluters an excuse to continue spewing emissions.

“What they’ve done essentially is undermine the mandate to try to reach 1.5,” said Tamara Gilbertson, climate justice program coordinator with the Indigenous Environmental Network. Greenpeace’s An Lambrechts, called it a “climate scam” with many loopholes.

With this deal wrapped up as crews dismantle the temporary venue, many have eyes on next year’s climate talks in Belem, Brazil.



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